The NAR assumes that 75%-80% of all homes pending will close within 60 days while the remaining will close within 120 days. Thus it is considered a prediction of future home sales.
The index is intended to predict home sales but it may not be it's best use for several reasons. 1. It doesn't track FSBO sales 2. It samples only 20% of all the MLS transactions 3. it doesn't take into consideration new construction.
In addition, in a tough mortgage climate such as the one we're in now, a greater percentage of pending sales will fail to close at all because of lack of financing.The Pending Home Sales Index still has its place, however -- it's a terrific look at the buy-side demand for homes.
The Pending Home Sales Index is an excellent way to view the overall markets strength. When the PHSI is moving up we know that there are more buyers in the market for homes and typically with more demand comes higher prices.
The Pending Home Sales Index experienced a large increase in June 2008 for the 2nd time in 3 months. This occured even as most economists were calling for a decline. This indicates an overall gain in the market for demand.
Since the PHSI doesn't indicate closed transactions we only know that demand is greater and that buyers are finding this a good time to move forward with a purchase. This tracking makes the Pending Home Sales Index a worthwhile source of market data since we know that greater demand will usually result in higher real estate prices in the future.
1. Multiply your marketing efforts
One of the keys to success on the Internet is multiplication. Any sales campaign is a numbers game, and you need to multiply your marketing or advertising efforts in order to hit those numbers. Do you do e-zine advertising? Then look for e-zines with more than 10,000 subscribers, and then look for more of such e-zines to multiply the numbers.
Do you advertise on message boards? Then use software to send your message out to multiple message boards. It's all about multiplication here.
2. Track your hits
Do you track your hits? If not, then it is high time that you do it, so that you can improve on your visitor ratio. Any serious Internet marketer should be doing it. You need to know where all your visitors are coming from, so that you can do the necessary improvements, like changing your headlines, offer a stronger guarantee, or add new testimonials, etc.
3. Find out who are your strongest leads
You can do yourself a favor by finding out who are your strongest leads for buying your products by offering a free e-zine. The visitors who are very interested in your products will definitely subscribe to it, and from there, you will know where these people come from, and how to find them.
4. Team up with your competition
If you can't beat them, then join them. Team up with your competition and start an association for your particular industry. This Internet marketing strategy can lead to a very profitable partnership with your competitors, so it is a win-win situation here.
5. Come up with a proper sales plan
Most Internet marketers fail because they never draw up any specific plans to do their marketing, and in the end, found themselves heading nowhere. So draw up a proper plan, a proper Internet marketing strategy. For example, you can plan a 4-week strategy to use e-zine advertising, and then make sure you stick to this plan.
6. Look for comments on your business
You can do a search for your online business? name in newsgroup or discussion boards. Look out for any comments about your business, because some of these comments you find can actually help to improve your business.
7. Get people to link to you
Attract other webmasters to link to your website. You can do this by offering them a discount on some of your products you sell, or give them some free stuff in appreciation for their links, like a free e-book or a free report. This Internet marketing strategy will improve your website's link popularity, which will be very helpful when it comes to your site's ranking in the search engines.
8. Grow your own opt-in list
It is widely agreed throughout the world of Internet marketing that the big money is in the list. So grow your own opt-in email list by giving your visitors a compelling reason for them to join your list. You can allow them to sign up for free stuffs, like some free marketing course, or contests, or discounts to some of your products.
9. Create more ?PR? for your business
You can encourage more ?PR? by creating a PR page for your business. What you can do here is to search for information that can be considered newsworthy for e-zines and other online mediums.
10. Return a favor for positive reviews
You can give your business and products more credibility by linking to other websites that have written favorable and positive reviews about your business. Other people have actually taken the trouble to write something good about your business, so the very least you can do is to return some of that favor to them by linking back to their websites.
Both Rob Kosberg & Wyatt Lee are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Rob Kosberg has sinced written about articles on various topics from Credit Counseling, Credit Loans and Free Credit Report Score. If you are in the market to Buy a Home then check out Rob Kosbergs' Complete FREE Guide on Buying your Dream Home with a or for up to date Mort. Rob Kosberg's top article generates over 60500 views. to your Favourites.
Wyatt Lee has sinced written about articles on various topics from Skin Care, Internet Marketing and Writing. Wyatt Lee is a successful full-time Internet marketer. How would you like to get FREE inside secrets of a homeless chap who made more than $3 million in just 27 months online?. Wyatt Lee's top article generates over 12100 views. to your Favourites.